Viva Aerobus Closes 2022 with Record-Breaking Results
Viva Aerobus’s 4Q22 financial results report record revenues of US$1.46 billion. The airline also reported record passengers with 20.7 million, an increase of 35.6% compared to 2021 and an occupancy factor of 85.8%. The company also grew its fleet to 69 aircraft, an increase of 25.5% compared to 2021.
For Viva Aerobus, 2022 was a good year regarding passenger demand, despite Mexico’s complex macro environment and challenging external factors. The company reached record revenues of US$1.46 billion, surpassing pre-pandemic levels for the second consecutive year. Additionally, the 20.7 million passengers transported during 2022 allowed it to hit the 100-million passengers mark since its foundation in 2006. “We achieved significant milestones and strengthened the foundation of our ultra-low-cost model and we also launched our loyalty program “Doters,” which closed the year with 1.3 million members, a remarkable feat for only five months of operation, and our new co-brand card HSBC Viva,” says Juan Carlos Zuazua, Chief Executive Officer, Viva Aerobus.
During the year, the airline strengthened partnerships by signing a codeshare agreement with Iberia and obtained approval from the Mexican Antitrust Commission (COFECE) for its commercial alliance agreement with Allegiant. It also issued a MX$1.0 billion (US$55 million) five-year bond in the Mexican stock exchange (BIVA) and performed the first US-Mexico SAF flight from Los Angeles to Guadalajara in June by partnering with leading SAF producer Neste. Viva Aerobus also introduced the HSBC-VIVA credit cards, was named as “Low-Cost Airline of 2022” by CAPA Centre for Aviation and is ranked third in the Top Companies and Expansion Super Companies Ranking.
“Viva’s favorable position in the market, coupled with a disciplined approach toward capacity, led to one of the healthiest EBITDAR margins in the industry at 22.2%. We managed to overcome record-high jet fuel prices of US$4.40 per gallon, rising inflation and significant impacts on our operations due to delays in the delivery of aircraft and spare parts by main OEMs as supply chain disruptions continue,” says Zuazua.